The Federal High Court in Lagos on Thursday fixed January 20, 2025, for the Economic and Financial Crimes Commission (EFCC) to arraign the Chairman of Honeywell Group, Chief Oba Otudeko, and a former First Bank Managing Director, Stephen Onasanya, for allegedly looting ₦12.3 billion from First Bank.
Otudeko, a former Chairman of First Bank of Nigeria Holdings, and Onasanya are to be arraigned alongside a former board member of Honeywell, Soji Akintayo, and a firm, Anchorage Leisure Limited, allegedly connected to Otudeko.
According to EFCC, the four defendants allegedly committed fraud in tranches of ₦5.2 billion, ₦6.2 billion, ₦6.150 billion, ₦1.5 billion and ₦500 million, between 2013 and 2014 in Lagos.
The PUNCH reports that in the 13 counts, filed by EFCC counsel, Mrs Bilikisu Buhari, on January 16, 2025, EFCC further claimed that the defendants made and uttered and forged documents to deceive the bank.
Otudeko, Onasanya, Akintayo and Anchorage will be brought before Justice Chukwujekwu Aneke, to whom the case, registered as FHC/L/20C/2025, has been assigned.
In count one, the EFCC accused the defendants of conspiring to obtain the sum of N12.3bn from First Bank Limited on the pretence that the said sum represented credit facilities applied for by Tech Dynamic Links Limited and Stallion Nigeria Limited, a representation they knew was false.
The commission also alleged that on or about November 26, 2013, in Lagos, the defendants obtained the sum of ₦5.2 billion from First Bank on the pretence that the said sum represented credit facilities applied for by V Tech Dynamic Links Limited, a representation they knew was false.
The anti-graft agency claimed that the defendants, between 2013 and 2014 in Lagos, obtained ₦6.2 billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for and disbursed to Stallion Nigeria Limited, a representation they knew was false.
In the fourth count, they were accused of conspiring to spend the ₦6.15 billion out of the funds.
